There are 1700-2500 sq.ft houses in pretty good shape around $120k.

So, if the appraiser is giving an ARV, it really doesn't matter if the seller knows what that ARV is, as he's clearly not in any position to do the repairs to get the property into shape to sell for that amount.

I believe you're on the right track, but you should know before you buy if you can bring the subject up in value to the desired comps, if not and you're selling the runt in the litter, healthy and in good shape, just smaller or less expensive, then you should have an idea about your profits and probably a quicker sale.

Unless a credit grade corporate tenant the trend in many places is for the landlord (owner) to split the spaces into smaller ones so you limit the risk of mom and pops going out of business.

It has no garage and no basement, is sitting on an oddly shaped, but very large corner lot.

Unless you plan to rehab, which it sounds like you don't want to, you need to look in towns where the cost of living is not very high to get a house in good shape.

Just wondering how long these trends can continue.

The houses on it, like the street, are in terrible shape.

Texas has been growing its population at twice the rate of the US for years and all signs point to that trend continuing.

The Fresno thing is in good shape.